The public sale offer (OPV) of 1,945,000 BAI shares, corresponding to 10 percent of the share capital held by the State through the oil company Sonangol and the diamond company Endiama, also marks the beginning of negotiations on the capital market in Angola. (Bodiva).
According to the OPV calendar, on Thursday the results of the offer will be released, and certain requirements must be met so that shares are allocated to investors: the purchase order price must be equal to the final unit price of the offer, the number of shares to be entitled is lower than the amount placed in the acceptance declaration (or purchase order), according to the apportionment to be carried out.
If the price stated in the declaration of acceptance is lower than the final price of the offer, the investor will not be entitled to any shares.
The physical and financial settlement of the shares takes place on Friday and admission to trading on Bodiva is scheduled for 9 June.
The shares have a nominal value (which results from the division of BAI's share capital by the number of shares it has issued) of 8,100 kwanzas each, that is, 19 dollars.
In August 2021, BAI approved at an extraordinary general meeting the full amendment of the company's statutes, for the purposes of preparing its qualification as a publicly-held company, thus allowing the capital to be dispersed on the stock exchange.
BAI's structure is made up of 54 shareholders, none of which hold qualifying holdings, with Sonangol standing out as the main shareholder with 8.50 percent of the capital.
The group of shareholders also includes Oberman Finance Corp (5 percent), Dabas Management Limited (5 percent), Mário Palhares (5 percent), Theodore Giletti (5 percent), Lobina Anstalt (5 percent), Coromasi Participações Lda (4.75 percent), Mário Barber (3.87 percent), Luís Lélis (3 percent) and unidentified others, who share the remaining 54.88 percent of the capital.
The executive's Privatization Program provides for the sale of Sonangol's stakes in sectors such as insurance and banking and the departure from BAI was even scheduled for 2020, but the public tender did not go ahead, taking place now through the public offer of sales.
